Should ‘Tech Giants’ Have Higher Tax Rates Than Smaller Companies?

The United Kingdom may impose a new “digital services tax” if certain countries don’t start taxing multinational tech giants like Amazon, Apple and Google. It was reported that Spain has already passed its “tech tax” and the EU finance ministers are on the verge of finalizing a deal to propose a “tech tax” beginning in 2020. John Loudon, VP of Public Relations at Engineered Tax Services joined Bold Business to share his thoughts on the UK’s [possible] new “digital services tax”!

“I sure don’t like the idea if it’s protectionists, and it’s attacking the U.S. specfically, that would bother me but if they are looking for creative ways to raise venue in lieu of something like income taxes that are more regressive, then why not,” said Loudon.

He continued, “You’ll see a lot of large corporations endorse more regulation, and they like more regulation because they have the lawyer and accountants to work around the regulations, but that becomes a big [hidden] burden for startups. [So] If you’re taxing the big guys and giving breaks to the small guys, not sure that’s a bad thing.”